24th May 2011
From the Daily Mail, can you teach anyone the tricks of the ‘trade'? Mike Baghdady of London-based Training Traders is giving 15 novices £100,000 each to trade on the financial and commodity markets in a bid to prove that no specific skill sets are necessary to be a success on the trading floor.
The New York Times has reported Sony is the latest company to report loss of earning because of the Japanese disaster. The string of cyber attacks has also clouded Sony's outlook.
Also in the New York Times, sales in the organic food sector look attractive to investors. Many farmers and analysts expect the sector to remain strong in coming years, helped by increased public awareness of environmental and potential health benefits, better organization and production techniques, new demand from emerging markets and those periodic public scares attending events like the recent nuclear plant radiation leaks in Japan. Another theory is that, as with the luxury industry, the core consumers, typically with high disposable incomes, are less affected by hard times.
The Telegraph are discussing better than expected M&S profits, but they are putting down to an increase from emerging markets, specifically India and China.
The Guardian has reported the possible downgrade of 14 UK banks. The reassessment is not driven by either a deterioration in the financial strength of the banking system or that of the government. It has been initiated in response to ongoing guidance from the UK authorities (the Bank of England, the Financial Services Authority and the Treasury) that banks that fail in the future should not expect capital injections from the public purse," said Elisabeth Rudman, a Moody's senior credit officer and bank analyst.
After LinkedIn's success on the stock exchange it seems like everybody else want to get in on the action. The Independent have covered the story of a Russian search engine is set to embark on what could be the biggest float by an online firm since Google raised $1.67bn (£1bn) back in 2004.
Reuters is looking into how Glencore fared on its first day of trading. Commodities trader Glencore's shares were stuck under water on their first day of official trade, dashing hopes of a strong start after it set a mid-range flotation price for London's largest ever offering. Several analysts have said the market debut should be seen as a success given its size and continued uncertainty in both commodity and equity markets.
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